Monday, April 30, 2012
NanoH2O Lands $60M In Funding
El Segundo-based NanoH2O the developer of high efficiency, reverse osmosis membranes for seawater desalination, announced this morning that it has raised a total of $60M in equity and debt funding. According to the firm, it raised $40M in equity and $20.5M in credit facilities. The equity round was led by BASF Venture Capital GmbH, Total Energy Ventures International and Keytone Ventures, and also included Khosla Ventures, Oak Investment Partners, CalPERS Clean Energy & Technology Fund represented by Capital Dynamics and PCG Clean Energy & Technology Fund.
The debt portion of the funding, worth $20.5M, came from Comerica Bank and Lighthouse Capital Partners, with a working capital line backed by the Export-Import Bank of the United States. NanoH2O, whose technology is based on research originally developed at UCLA, uses thin-film nanocomposite membrane technology for seawater desalination. As part of the funding, BASF Venture Capital, Total Energy Ventures and Keytone Ventures will all gain a seat on the firm's board of directors. NanoH2O is led by serial entrepreneur Jeff Green. NanoH2O said it has now raised $75M in equity, and more than $100M total in equity and debt.More information »